Ripio Expands its crypto lending platform across Latin America

As reported by Coindesk – Ripio an Argentinian startup is offering peer to peer microloans to all of its 200,000 bitcoin wallet users in Argentina, Mexico, and Brazil. Ripio mentioned it has 3,000 lenders on the marketplace issuing loans for up to $730.

The distinguishing feature of the Ripio lending model is that Ripio offerings are available to unbanked crypto users. Although the startup doesn’t have data on how many unbanked users are on its platform, a survey of 1,000 Ripio users revealed 19 percent didn’t have a credit card. They often fund their wallets by depositing cash at convenience stores that partner with Ripio.

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Published by Samiksha Seth

Samiksha Seth a Storyteller with over 14 years of industry experience in BFSI, Fintech, e-commerce and currently exploring the world of Blockchain. She has worked on projects for some of the world’s leading financial companies both in India, Europe, and North America. She writes extensively on Fintech, Blockchain and other evolving technologies A Tech Enthusiast, an avid blogger, a Reiki practitioner and a curious mind. Samiksha does not hold any value in cryptocurrency or its projects.
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